Harry Browne on Federal Reserve Conspiracies

[legion]

http://www.youtube.com/watch?v=AxcY4qaubg0

[Danke]

That's fine. But nothing wrong with examining the history.

Kinda sad he doesn't understand the coercive function of the central bank.


edit: He makes some good points, but his understanding is rather shallow. Especially wrt to income taxes.

[GeorgiaAvenger]

Interesting.

[legion]

That's fine. But nothing wrong with examining the history.

Kinda sad he doesn't understand the coercive function of the central bank.


edit: He makes some good points, but his understanding is rather shallow. Especially wrt to income taxes.

What mistake did he make about income taxes? Keep in mind this was just Harry sitting in his living room going off his memory. He did not have a team of producers feeding him information like Hannity/Limbaugh.

[Danke]

dupe

[Danke]

What mistake did he make about income taxes? Keep in mind this was just Harry sitting in his living room going off his memory. He did not have a team of producers feeding him information like Hannity/Limbaugh.

Well, since it has been a while, I'd have to go back and listen. But there are a lot of posts here on Central Banking, and posts wrt the income Tax, including mine.

If you really want to understand the Income Tax, I'd recommend this book along with the included tax compendium. http://losthorizons.com/Cracking_the_Code.htm

[legion]

Even if it were true, it's irrelevant, because the Revenuers have guns and aren't afraid to use them. That's Harry's point.

Additionally, most people think they are right and would see you as getting one over on them as a tax resister. It doesn't help the cause.

[Danke]

Even if it were true, it's irrelevant, because the Revenuers have guns and aren't afraid to use them. That's Harry's point.

Additionally, most people think they are right and would see you as getting one over on them as a tax resister. It doesn't help the cause.

Bring that up and one can't really argue a point. They have guns, presidents are puppets, etc. So why bother campaigning for RP? He doesn't have a chance against the guns. There is no chance fighting "them." I have heard it all before.

Glad George Washington didn't have that now prevailing POV.

Back to the point, Harry Brown was technically wrong, from what I remember of the posts in this thread.

Oh wait, Harry Brown has the answers, even though RP himself advocates civil disobedience.

Go along, get along. Yeah, how has that been working?

[Voluntary Man]

most people think they are right and would see you as getting one over on them as a tax resister.

Theft Resister

Murder Resister

Rape Resister

[FauxCapitalist]

edit: He makes some good points, but his understanding is rather shallow. Especially wrt to income taxes.

He said "the Federal Reserve System is not privately owned." -- WRONG!

[FauxCapitalist]

Listening to more...

At 16:08, he claimed the Fed returns "trillions and trillions" of dollars back to the U.S. Treasury each year. The WSJ reports that the Fed returned $79.3 billion to the Treasury last year, and that's with far more debt outstanding than when Browne made his comments.

Epic fail!

[The Goat]

There are plenty of failures by the FED with out the conspiracies.


A Century of Failure: Why It's Time to Consider Replacing the Fed | George Selgin


http://www.youtube.com/watch?v=yLynuQebyUM&feature=related

[Marenco]

Milton Friedman also makes a great argument against the FED:


The stock of money, prices and output was decidedly more unstable after the establishment of the Reserve System than before. The most dramatic period of instability in output was, of course, the period between the two wars, which includes the severe (monetary) contractions of 1920-1, 1929-33, and 1937-8. No other 20 year period in American history contains as many as three such severe contractions.
This evidence persuades me that at least a third of the price rise during and just after World War I is attributable to the establishment of the Federal Reserve System... and that the severity of each of the major contractions — 1920-1, 1929-33 and 1937-8 is directly attributable to acts of commission and omission by the Reserve authorities...
Any system which gives so much power and so much discretion to a few men, [so] that mistakes — excusable or not — can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic — this is the key political argument against an independent central bank...
To paraphrase Clemenceau, money is much too serious a matter to be left to the central bankers.

Milton Friedman, Capitalism and Freedom, 1962.

[Travlyr]

There are plenty of failures by the FED with out the conspiracies.


A Century of Failure: Why It's Time to Consider Replacing the Fed | George Selgin


http://www.youtube.com/watch?v=yLynuQebyUM&feature=related

Very interesting!

[Galileo Galilei]

Listening to more...

At 16:08, he claimed the Fed returns "trillions and trillions" of dollars back to the U.S. Treasury each year. The WSJ reports that the Fed returned $79.3 billion to the Treasury last year, and that's with far more debt outstanding than when Browne made his comments.

Epic fail!

The Fed does return money to the treasury each year.

[GeorgiaAvenger]

There are plenty of failures by the FED with out the conspiracies.


A Century of Failure: Why It's Time to Consider Replacing the Fed | George Selgin


http://www.youtube.com/watch?v=yLynuQebyUM&feature=related

Thanks for this!

[GeorgiaAvenger]

Milton Friedman also makes a great argument against the FED:



Milton Friedman, Capitalism and Freedom, 1962.

I agree. He was against the FED which most do not know.

[The Goat]

Its a great presentation, it was at Furman University which is walking distance from my house. Wish I would have known about it, would love to have been there.


Very interesting!

[heavenlyboy34]

I agree. He was against the FED which most do not know.
Wasn't it Friedman who proposed replacing the FED with a computer?

[GeorgiaAvenger]

Wasn't it Friedman who proposed replacing the FED with a computer?

Maybe. He believed changes in money supply are harmful, and wanted a steady rate(a computer would provide that.)

He had a number of theories throughout his life when it came to money supply and banking, including embracing free, 100% reserve banking.